Ebos Group Limited · NZX:EBO

Ebos — H1 FY20 Earnings Presentation

28 slides from Ebos's earnings presentation, Feb 20, 2020

  1. Slide 1: Investor Presentation: Interim Financial Results

    For personal use only INVESTOR PRESENTATION INTERIM FINANCIAL RESULTS Half year ended 31 December 2019 20 February 2020

  2. Slide 2: Disclaimer

    DISCLAIMER The information in this presentation was prepared by EBOS Group Ltd (EBOS) with due care and attention. However, the information is For personal use only supplied in summary form and is therefore not necessarily complete, and no representation is made as to the accuracy, completeness or r

  3. Slide 3: Group Financial Results

    For personal use only Group Financial Results

  4. Slide 4: H1 FY20 Summary Results

    H1 FY20 SUMMARY RESULTS1 For personal use only Revenue Statutory EBITDA Statutory NPAT $4.4b up 25.2% $167.2m up 36.4% $81.7m up 21.8% Underlying EBITDA2 Underlying NPAT2 $149.0m up 13.4% $84.2m up 15.8% Statutory EPS ROCE Dividends per share 50.6c up 14.8% 15.9% 37.5c up 8.7% (NZ$) consistent with

  5. Slide 5: Strategic Highlights

    STRATEGIC HIGHLIGHTS Group revenue increased by 25.2% evidencing the strength of our portfolio of businesses with a substantial uplift in Pharmacy Wholesale and strong performances from TerryWhite Chemmart, For personal use only Institutional Healthcare and Healthcare Logistics  The Australian whol

  6. Slide 6: H1 FY20 Financial Performance

    H1 FY20 FINANCIAL PERFORMANCE  Significant revenue increase of 25.2% For personal use only A$m H1 FY20 H1 FY19 Var$ Var% primarily due to growth in Pharmacy Underlying Results ¹ Wholesale, TerryWhite Chemmart, Revenue 4,376.1 3,496.5 879.6 25.2% Institutional Healthcare and Contract Gross Operating

  7. Slide 7: Healthcare Results

    For personal use only Healthcare Results

  8. Slide 8: Healthcare Segment

    HEALTHCARE SEGMENT Significant growth in Australia from a strong underlying trading performance For personal use only  Australia’s growth in revenue of 30.9% and A$m H1 FY20 H1 FY19 Var$ Var% Underlying EBITDA of 22.3% was driven by the Revenue 4,165.5 3,304.2 861.3 26.1% performances of our Pharma

  9. Slide 9: Community Pharmacy

    COMMUNITY PHARMACY For personal use only  Pharmacy revenue increased by $670m and A$m H1 FY20 H1 FY19 Var$ Var% GOR by $31m due to increased wholesale volumes in both Australia and New Zealand. Revenue 2,561.9 1,892.2 669.7 35.4% GOR 221.4 190.6 30.8 16.2%  The pharmacy business benefitted from: G

  10. Slide 10: TerryWhite Chemmart

    TERRYWHITE CHEMMART Continued growth in one of Australia’s leading community pharmacy networks For personal use only 16 new pharmacies 5.7% network joined the network sales growth In the last six months, we welcomed 16 new pharmacies to With prescription sales growth of Repositioning the brand under

  11. Slide 11: Institutional Healthcare

    INSTITUTIONAL HEALTHCARE For personal use only  Revenue growth of 9.1% was driven largely A$m H1 FY20 H1 FY19 Var$ Var% from increases in new specialty medicines, Revenue 1,252.3 1,147.8 104.5 9.1% combined with strong growth in the medical consumables sector and the acquisition of GOR 109.4 101.8

  12. Slide 12: Contract Logistics

    CONTRACT LOGISTICS For personal use only  An active business development focus led to GOR growth of 21.5% as the business A$m H1 FY20 H1 FY19 Var$ Var% continues to drive growth and profitability Revenue 346.4 241.9 104.5 43.2% as customers join our new facilities. GOR 39.3 32.3 7.0 21.5% Note: GOR

  13. Slide 13: Consumer Products

    CONSUMER PRODUCTS For personal use only  Consumer Products performance was affected by softer overseas demand for our products, A$m H1 FY20 H1 FY19 Var$ Var% reflective of the changes which have impacted Revenue 57.9 59.6 (1.7) (2.9%) the daigou export channel. GOR 19.7 23.2 (3.5) (15.0%)  We have

  14. Slide 14: Animal Care Results

    For personal use only Animal Care Results

  15. Slide 15: Animal Care Segment

    ANIMAL CARE SEGMENT Strong Revenue and Underlying EBITDA performance reflecting continued growth in our key brands For personal use only Underlying EBITDA and Underlying EBITDA % A$m H1 FY20 H1 FY19 Var$ Var% Revenue 210.6 192.3 18.3 9.5% Underlying EBITDA 25.7 24.3 1.4 5.7% Underlying EBITDA% 12.20

  16. Slide 16: Continued Growth From Our Brands

    CONTINUED GROWTH FROM OUR BRANDS Both our Black Hawk and Vitapet brands continue strong growth rates For personal use only  Black Hawk sales grew 9.7% due to:  Strong consumer support for our products.  Continued investment in marketing to drive increased brand awareness and retail support.  Mai

  17. Slide 17: Group Financial Information & Outlook

    For personal use only Group Financial Information & Outlook

  18. Slide 18: Cash Flow

    CASH FLOW For personal use only A$m H1 FY20 H1 FY19 Var$ Var% Statutory Cash Flow including IFRS 16 Leases EBITDA 167.2 122.6 44.6 36.4% Net interest paid (15.4) (12.4) (3.1) Tax paid (32.6) (25.7) (6.9) Net working capital and other movements (45.0) (44.3) (0.7) Cash from Operating activities 74.2

  19. Slide 19: Working Capital and ROCE

    WORKING CAPITAL AND ROCE Working Capital 1 Return on Capital Employed 1 For personal use only A$m Dec 2019 June 2019 Net Working Capital Trade receivables 1,069.6 865.7 Inventory 728.7 723.5 Trade payables/other (1,462.1) (1,307.3) Total 336.2 281.9 Cash conversion days2 Debtor days 43 43 Inventory

  20. Slide 20: Net Debt and Maturity Profile

    NET DEBT AND MATURITY PROFILE Net Debt and Net Debt : EBITDA ratio 1 Debt Maturity Profile – facility limits 1 For personal use only  Net Debt1 of $392m at December 2019,  At 31 December 2019, gross drawn debt1 was with a Net Debt : EBITDA1 ratio of 1.41x $666m or 64% of total facility limits. (1.

  21. Slide 21: Earnings and Dividends Per Share

    EARNINGS AND DIVIDENDS PER SHARE Underlying Earnings Per Share (A$ cents) Dividends Per Share (NZ$ cents) For personal use only  Underlying EPS of 52.2 cents representing growth of 9.1% in H1 FY20.  Interim dividend of 37.5 cents (imputed to 25% and franked to 100% for Australian resident sharehol

  22. Slide 22: FY20 Outlook

    FY20 OUTLOOK  Trading for the first half of FY20 was in line with our internal expectations and we reconfirm the For personal use only Group is confident of a significant increase in earnings in the current financial year.  We have not seen any significant impact to the Group as a result of the co

  23. Slide 23: Supporting Information

    For personal use only Supporting Information

  24. Slide 24: H1 FY20 Reconciliation of Underlying and Statutory Earnings

    H1 FY20 RECONCILIATION OF UNDERLYING AND STATUTORY EARNINGS For personal use only H1 FY20 H1 FY19 Underlying¹ IFRS16 M&A One-off Statutory A$m H1 FY20 H1 FY19 Var$ Var% Impact costs costs H1 FY20 H1 FY19 Var$ Var% Group Income Statement Revenue 4,376.1 3,496.5 879.6 25.2% - - - 4,376.1 3,496.5 879.6

  25. Slide 25: Reconciliation of Underlying and Statutory Net Assets for IFRS 16 Leases

    RECONCILIATION OF UNDERLYING AND STATUTORY NET ASSETS FOR IFRS 16 LEASES For personal use only Net Assets as at 31 December 2019 Pre IFRS 16 lease adjustment IFRS 16 Statutory A$m 31-Dec-19 impact 31-Dec-19 Current assets 2,136.9 2,136.9 Non-current assets 1,424.0 298.1 1,722.1 Current liabilities (

  26. Slide 26: Segment Earnings and GOR Mix

    SEGMENT EARNINGS AND GOR MIX EBITDA by segment Gross Operating Revenue (GOR) H1 FY20 For personal use only A$m H1 FY20 H1 FY19 Var$ Var% Statutory EBITDA 13% Healthcare 145.8 104.3 41.6 39.9% 87% Animal Care 28.5 24.3 4.2 17.2% 13% Corporate (7.1) (6.0) (1.1) (18.2%) Group 167.2 122.6 44.6 36.4% 5%

  27. Slide 27: Glossary of Terms and Measures

    GLOSSARY OF TERMS AND MEASURES Except where noted, common terms and measures used in this document are based upon the following definitions: Term Definition Debtor days Trade debtors at the end of period divided by Revenue for the period, multiplied by number of days in the period. For personal use

  28. Slide 28: www.ebosgroup.com

    For personal use only www.ebosgroup.com

EBOS Group — H1 FY20 Earnings Presentation on 6ix